The fourth quarter of 2011 led the Diagnostics and Tools global market to an increase in equity returns and EBITDA multiples. The in-vitro diagnostics subsector had $445mm in announced private placements, making it the most active across the diagnostics and tools sector. The life science tools industry was the most active in terms of transaction volume on the M&A front, whereas in-vivo diagnostics had the highest announced transaction volume. Notable transactions for the period include a $54.1mm private placement in Sensors for Medicine and Science, Inc. and the $753mm acquisition of...

The Crosstree Capital Partners Pharma Outsourcing Aggregate Index climbed 4.6% over the second quarter of 2013, representing the third consecutive quarter that the Industry Index has increased. Industry Private Placement activity by volume stayed relatively flat quarter to quarter, while M&A activity increased. The Development and CDMO segments kept a nearly identical pace in deal volume over the second quarter relative to the first,with the segments representing the heaviest activity in both the private placement and M&A markets for the broader industry. The Development segment...